Subject: Re: Sea freight: 1st trade done today
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked], [email-masked]
Date: Mon, 7 Aug 2000 01:47:00 -0700 (PDT)

As info. 
 We are working to keep the bid / ask spreads as narrow as possible for each 
of our EOL markets - domestic and international coal, vessel freights and 
emissions.  Volumes for coal and emissions are already up, and freight should 
be a rapidly developing market.

---------------------- Forwarded by George McClellan/HOU/ECT on 08/07/2000 
08:40 AM ---------------------------

John Sherriff
08/04/2000 10:39 AM
To: Pierre Aury/LON/ECT@ECT
cc: George McClellan/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT, Chris 
Connelly/LON/ECT@ECT 
Subject: Re: Sea freight: 1st trade done today  

Pierre

Congratulations - this is a fabulous market for us to work.

John

   

	Enron Europe
	
	From:  Pierre Aury                           04/08/2000 14:08

To: John Sherriff/LON/ECT@ECT
cc: George McClellan/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT, Chris 
Connelly/LON/ECT@ECT 

Subject: Sea freight: 1st trade done today

hello John
we started to work on the idea of putting freight swaps on eol during fh may. 
we were ready technically early july, cleared all legal hurdles end july, 
went live on the 1st of august and did our first trade today . and guess what 
the customer is so enthusiastic that he ll make us great advertisement . this 
is the first time ever a shipping transaction has  been made principal to 
principal 100pct  through an electronic media.
fyg we are quoting 2 contracts based on cape size vessels (cargo size 150 000 
tons ) on coal routes . one is south africa to rotterdam and the other one is 
colombia to rotterdam. these routes are  the main routes of the international 
coal group portfolio. 
in terms of volume what we are putting on eol every day is more than what is 
contracted on the normal otc market on a monthly basis.
in terms of spreads existing otc market is working with 0.75 to 1 usd  when 
our spread is now 0.20 usd.

in september/october  we will increase the number of contracts available to 
include smaller vessels and other types transaction (time charter in addition 
to the present contract which are "voyage" type transactions) 
.
pierre aury 

--------------------- Forwarded by Pierre Aury/LON/ECT on 04/08/2000 13:44 
---------------------------

	Enron Europe
	
	From:  Chris Connelly                           04/08/2000 11:44

To: Enron London - EOL Product Control Group/LON/ECT@ECT
cc: Louise Kitchen/HOU/ECT@ECT, David Forster/Corp/Enron@Enron, Stuart 
Staley/LON/ECT@ECT, George McClellan/HOU/ECT@ECT, Nick Mooney/LON/ECT@ECT 
(bcc: Pierre Aury/LON/ECT)

Subject: Sea freight: 1st trade done today

Fyi,

We have just traded our first sea freight contract today with Bocimar BV as 
the counterpart.  Bocimar is the biggest Cape size vessel operator in the 
world and they called after the trade to let me know that they think the 
system is great and will be using it to trade regularly.

Regards

Chris Connelly